For many firms, inventory represents 10% to 20% of their total assets. While inventory management is the responsibility of the operations managers, it is also a major concern of the financial manager because of large investments involved. The financial manager is interested in the amount invested in inventory as well as techniques for controlling inventory.
Questions
1. Discuss how advanced technologies have helped companies to manage their inventories more efficiently. Identify a specific company that has utilized advanced technologies to manage its inventory. You will need to conduct research to answer this question. Each student should use a different company.
2. What problems might occur with the full implementation of RFID technology in retail inventories?
3. What factors make managing inventory more difficult for exporters and multinational companies?